Samsung Electronics said Wednesday it has completed the development of the 8-nanometer (nm) FinFET process technology, 8LPP (Low Power Plus), moving closer to its commercialization.

Samsung claims that the newest process node, 8LPP provides up to 10-percent lower power consumption with up to 10-percent area reduction from 10LPP through narrower metal pitch. 8LPP will provide benefits for applications including mobile, cryptocurrency and network/server.

It is described by the company as "the most advanced and competitive process node before EUV is employed at 7nm." Samsung expects tha 8LPP will rapidly ramp-up to the level of stable yield by adopting the already proven 10nm process technology.

"With the qualification completed three months ahead of schedule, we have commenced 8LPP production," said Ryan Lee, Vice President of Foundry Marketing at Samsung Electronics.

Samsung kicked off the mass production of chips based on its 10-nanometer technology for the first time throughout the industry in October 2016.

The company added that it continues to work closely with U.S. firm Qualcomm in the development of production technologies.

"8LPP will have a fast ramp since it uses proven 10nm process technology while providing better performance and scalability than current 10nm-based products," said RK Chunduru, Senior Vice President of Qualcomm.

For Samsung, the partnership with Qualcomm is one of its top priorities in the foundry business as the mobile chip maker takes 40 percent of Samsung's foundry output. However, Qualcomm struck a deal with Taiwanese foundry giant TSMC for the 7-nano process, hurting Samsung in the global foundry business. TSMC produces chips at 10nm process technology and has announced that it will introduce the next-generation 7nm processing technology. Samsung also plans to develop 7nm process technology in addition to its latest 8nm process.

Details of the recent update to Samsung's foundry roadmap, including 8LPP availability and 7nm EUV development, will be presented at the Samsung Foundry Forum Europe on October 18, 2017, in Munich, Germany.